MSME Innovative Scheme launched to promote and support untapped creativity of MSME sector

Last updated: 11 March 2022

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The MSME Innovative Scheme has been launched by Union Minister Shri Narayan Rane to foster creativity and innovation within the Micro, Small, and Medium Enterprises (MSME) sector. This comprehensive initiative integrates incubation, design support, and Intellectual Property Rights (IPR) protection to help entrepreneurs develop new ventures and bring ideas to market. The scheme aims to act as a central hub for innovation, guiding the transformation of concepts into viable business propositions that benefit society.

Shri Narayan Rane launches MSME Innovative Scheme (Incubation, Design and IPR) MSME IDEA HACKATHON 2022 under MSME Champions Scheme Union Minister for MSME Shri Narayan Rane todaylaunched the MSMEInnovative Scheme (Incubation, Design and IPR) along with the MSME IDEA HACKATHON 2022. Speaking on the occasion Shri Rane said MSMEs have an important role to play in Atmanirbhar Bharat. He said these schemes will help entrepreneurs in developing new ventures. MoS,MSME Shri Bhanu Pratap Verma

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FAQ :

The MSME Innovative Scheme is a new initiative that combines incubation, design intervention, and Intellectual Property Rights (IPR) protection to promote and support the untapped creativity of the MSME sector.

The scheme was launched by the Union Minister for MSME, Shri Narayan Rane, along with the MSME IDEA HACKATHON 2022.

The scheme has three sub-components: Incubation, Design, and IPR (Intellectual Property Rights).

Financial assistance of up to Rs. 15 lakh per idea and up to Rs. 1.00 crore for relevant plant and machines is available under the Incubation component.

Financial assistance of up to Rs. 40 lakh is available for design projects, and up to Rs. 2.5 lakh for student projects.

Financial assistance is provided as reimbursement for IPR protection, including up to Rs. 5 lakh for Foreign Patent, Rs. 1.00 lakh for Domestic Patent, Rs. 2.00 lakh for GI Registration, Rs. 15,000/- for Design Registration, and Rs.10,000/- for Trademark.

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